ETHERLive
ETHERLive delivers real-time price and volume data across 16+ exchanges to users in a clear and easy-to-understand package. Users can get up-to-the-second updates for each exchange/currency pair, as well as aggregated market averages for each exchange, currency, and the market as a whole. It also provides a global converted average of all the currency pairs monitored by ETHNews, converted to USD.

---

24hr ---
--%
RESOURCES

The Basics

Learn the basics of Ethereum and various cryptocurrency technologies

Learn More

What is Ethereum?

Understand the underlying principles of the Ethereum Platform

Learn More

The Blockchain

Discover the revolutionizing technology known as the blockchain

Learn More
SUBMIT

Press Release

Submit a press release for consideration on ETHNews

Submit Press

Story / Dapp

Submit a story or DAPP to be considered for publication on ETHNews.

Submit Story

Explanation

Submit "Ethereum Explainer" content for consideration to be featured on ETHNews

Submit Topic
ETHNews Logo
---
--%
Home
News
Etherlive
Ether Price Analysis
Resources
Contact Us

Luxembourg Bill Provides Regulation Framework For Blockchain Securities

By

Nicholas

Ruggieri

WriterETHNews.com

The European country updates its definition of dematerialized securities to include documents registered on a blockchain.

Luxembourg's Chamber of Deputies, the country's 60-person parliament, approved bill 7363 on Thursday, February 14, thereby establishing a regulatory framework for securities issued on blockchains. Passing with 58 parliament members voting yes and two voting no, the bill aims to offer "greater certainty for investors and make the transfer of securities more efficient by reducing the number of intermediaries."

Bill 7363 has roots in two previous securities-related laws passed in Luxembourg. The first, passed in August 2001, dealt with the legal circulation of securities within the country. It was then modernized in April 2013 with an amendment that gave legal status to "dematerialized securities." Dematerialized securities are securities that "are not evidenced by any paper support documentation."

Bill 7363 further updates the umbrella of dematerialized securities to include "the circulation of securities on the basis of secure electronic registration technologies, such as distributed ledger technology and in particular 'blockchain' technology."

Essentially, the bill gives blockchain securities the same legal status as traditionally issued securities. The bill conceptualizes blockchain-issued securities as tokens that act as digital assets "legally bound by the same rights as classic dematerialized securities."

In June 2018, ETHNews covered the memorandum of understanding signed between the Luxembourg House of Financial Technology (LHoFT) and two departments at the University of Luxembourg: the Interdisciplinary Centre for Security, Reliability and Trust, and the Faculty of Law, Economics and Finance. The partnership was formed to help facilitate the sharing of blockchain solutions and ICO regulation research between the LHoFT and the university's two departments.

Translations by Google.

Nicholas Ruggieri

Nicholas Ruggieri studied English with an emphasis in creative writing at the University of Nevada, Reno. When he’s not quoting Vines at anyone who’s willing to listen, you’ll find him listening to too many podcasts, reading too many books, and crocheting too many sweaters for his dogs, RT and Peterman.

ETHNews is committed to its Editorial Policy

Like what you read? Follow us on Twitter @ETHNews_ to receive the latest Luxembourg, Chamber of Deputies or other Ethereum law and legislation news.